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KOCHI: Bharat Petro Resources Limited (BPRL), a wholly owned subsidiary of BPCL, has started supply of crude oil to BPCL Kochi Refinery. BPRL has been set up with an aim in providing partial supply security of crude and hedging of price risks.

The supply of 7 lakh barrels of Das blend crude oil from Das Island operated by Abu Dhabi National Oil Company (Adnoc) marks the first direct sale of BPRLs share of equity oil to its parent company, BPCL.

BPRL along with ONGC Videsh and Indian Oil Corporation Limited acting jointly as the Indian Consortium have been awarded 10% Stake in Lower Zakum Concession, offshore Abu Dhabi. The Concession has a term of 40 years effective from March 9, 2018.

During July 2018, approximately 1 million barrels of BPRL’s share of equity crude oil from the Lower Zakum Concession was lifted by Bharat Oman Refineries Ltd.

Bharat Petro Resources Limited (BPRL) a 100% subsidiary of Bharat Petroleum Corporation Limited and its exploration and production arm, currently has participating interest (PI) in 25 blocks spread across 8 countries along with equity stake in two Russian entities operating four producing assets.

The other shareholders in the Lower Zakum concession are JODCO (10%, a wholly owned subsidiary of Japan’s INPEX Corporation), China National Petroleum Corporation (10%), Italy’s ENI (5%) and France’s Total S.A. (5%). The Abu Dhabi National Oil Company (ADNOC) holds a majority 60% stake in the concession.